Johnson Rice Downgrades Fluor Corporation (FLR) to Accumulate
Fluor Corporation (NYSE:FLR) was downgraded by equities research analysts at Johnson Rice from a “buy” rating to an “accumulate” rating in a research note issued on Monday. They currently have a $48.00 price target on the construction company’s stock. Johnson Rice’s price target points to a potential upside of 19.82% from the company’s previous close.
FLR has been the subject of a number of other reports. Credit Suisse Group lowered their target price on Fluor Corporation from $69.00 to $52.00 and set a “neutral” rating for the company in a report on Monday, May 15th. Canaccord Genuity upgraded Fluor Corporation from a “hold” rating to a “buy” rating and lowered their target price for the stock from $57.00 to $55.00 in a report on Monday, May 15th. Zacks Investment Research downgraded Fluor Corporation from a “buy” rating to a “hold” rating in a report on Monday, May 8th. BidaskClub upgraded Fluor Corporation from a “strong sell” rating to a “sell” rating in a report on Friday, June 30th. Finally, Deutsche Bank AG downgraded Fluor Corporation from a “buy” rating to a “hold” rating and lowered their target price for the stock from $55.00 to $40.00 in a report on Friday. Two analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $50.80.
Shares of Fluor Corporation (NYSE FLR) traded down 0.75% during trading on Monday, hitting $39.76. The company had a trading volume of 372,235 shares. Fluor Corporation has a 12-month low of $39.72 and a 12-month high of $58.37. The stock has a market capitalization of $5.56 billion, a price-to-earnings ratio of 23.53 and a beta of 1.39. The stock has a 50-day moving average of $45.12 and a 200 day moving average of $50.11.
Fluor Corporation (NYSE:FLR) last issued its quarterly earnings data on Thursday, August 3rd. The construction company reported $0.72 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.13. The company had revenue of $4.72 billion during the quarter, compared to the consensus estimate of $4.94 billion. Fluor Corporation had a return on equity of 13.80% and a net margin of 0.58%. The firm’s revenue was down 2.9% compared to the same quarter last year. During the same period last year, the company earned $0.72 earnings per share. On average, analysts predict that Fluor Corporation will post $2.38 EPS for the current fiscal year.
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Large investors have recently added to or reduced their stakes in the stock. Harbour Capital Advisors LLC purchased a new stake in Fluor Corporation during the first quarter valued at approximately $124,000. Huntington National Bank increased its stake in Fluor Corporation by 24.2% in the first quarter. Huntington National Bank now owns 2,727 shares of the construction company’s stock valued at $143,000 after buying an additional 531 shares in the last quarter. Smithfield Trust Co. increased its stake in Fluor Corporation by 393.3% in the second quarter. Smithfield Trust Co. now owns 3,700 shares of the construction company’s stock valued at $169,000 after buying an additional 2,950 shares in the last quarter. Ameritas Investment Partners Inc. purchased a new stake in Fluor Corporation during the first quarter valued at approximately $175,000. Finally, Mn Services Vermogensbeheer B.V. increased its stake in Fluor Corporation by 3.4% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 3,714 shares of the construction company’s stock valued at $183,000 after buying an additional 122 shares in the last quarter. Hedge funds and other institutional investors own 82.77% of the company’s stock.
Fluor Corporation Company Profile
Fluor Corporation (Fluor) is a holding company. The Company operates its business in four segments: Energy, Chemicals & Mining; Industrial, Infrastructure & Power; Government, and Maintenance, Modification & Asset Integrity (MMAI). The Company, through its subsidiaries, offers professional services providing engineering, procurement, construction, fabrication and modularization, commissioning and maintenance, as well as project management services on a global basis.
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